Wednesday, July 8, 2009

Technical talk: S&P 500 – expect retest sequence

Some insight into where my head's at; Having just shouted "BOHICA!!" (bend over, here it comes again) in response to a wave of selling, I saw the above headline and misread it as "...-expect rectal sequence". Might be time for a vacation.
From Fusion IQ via Investment Postcards from Cape Town:
The comments below were provided by Kevin Lane of Fusion IQ....

...There will be short-term trading opportunities that present themselves during the remainder of the summer and into the fall; however, we don’t see any directional bull trend re-establishing itself before some kind of retest sequence. The only thing that would change this outlook is a high volume move on strong internals back above the recent highs.